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Tech Down Sharply as Meta Slides on Regulatory Concerns -- Tech Roundup

12/06/2022 | 05:30pm EST

Shares of technology companies fell sharply as regulators put pressure on major tech firms.

European Union privacy regulators have ruled that Meta Platforms shouldn't require users to agree to personalized ads based on their online activity, triggering a plunge for the Facebook owner, which generates substantial growth from this type of advertising.

Lawmakers are demanding information from brokerage Silvergate Capital about transfers of customer funds between Sam Bankman-Fried's collapsed trading firm, Alameda Research, and his cryptocurrency exchange, FTX.

Taiwan Semiconductor Manufacturing plans to build a second semiconductor factory in Arizona and increase its investment there to $40 billion, the White House said ahead of a visit by President Biden. Apple Chief Executive Tim Cook said his company would buy chips fabricated by Taiwan Semi in the U.S.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

12-06-22 1729ET

Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 1.48% 143.96 Delayed Quote.10.80%
META PLATFORMS, INC. 4.10% 147.3 Delayed Quote.17.58%
MSCI TAIWAN (STRD) 0.00% 547.775 Real-time Quote.8.83%
SILVERGATE CAPITAL CORPORATION -2.42% 14.11 Delayed Quote.-16.90%
TAIWAN SEMICONDUCTOR CO., LTD. 0.63% 79.3 End-of-day quote.6.87%
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED -0.40% 503 End-of-day quote.12.15%
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